Kuwait Chapter of Arabian Journal of Business and Management Review Vol. 3, No.10(a); June. 2014

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1 THE ROLE OF ELECTRONIC INSURANCE AND ELECTRONIC COMMERCE IN EXPANSION OF INSURANCE COMPANIES Pedram Fakhri 1, Farzad hajighafori 2, Javad Jafarzadeh 3 Abstract: Insured mail (E-Insurance) in the usual sense as the use of Internet and information technology (IT) is defined as the production and distribution of insurance and insurance -specific electronic means can be provided to an insured through an insurance policy that is online (online) request, propose, negotiate and contract is signed. With the payment of premiums, distribution and processing compensation insurance policy can be done online in some countries regulatory limitations (supervision ) and technical (technical ) may not authorize the operation of purely electronic. But at the global level to support the realization and distribution of insurance premiums paid for online regulations are constantly being modified. Shortage of ICT professionals (ICT) and little skilled manpower and expertise in the field of e- commerce major infrastructure requirements for listed companies. Not ready to support other sectors ( such as electronic money and communication networks ), lack of laws and regulations ( electronic signature, copyright, etc.), the lack of widespread Internet use and access is restricted to its traditional view of the prevailing organizational culture obstacles hindering the implementation of e-commerce companies is evaluated. Eventually ( by default the application of e-commerce ) insurers Iranian interests and benefits of this description, there are : improved image 3 company as a leading and modern, facilitate collaboration and knowledge transfer between stakeholders ( shareholders, agents and broker ), reduced investment costs required to build and expand a network of Agents, lowering costs for all products / services and business expansion by eliminating geographical restrictions. Keywords: Insurance, Electronic Insurance, E- Commerce Introduction The present and future of electronic insurance 1.The current world Due to the similarity of insurance products, competitive price and given that it is difficult for insurers to differentiate between insurers is in service. Thus, e-procurement for the sale of insurance is particularly important to reduce costs and prices. 1. Student Master of Business Administration - Insurance Management Islamic Azad University of Sanandaj,iran 2.Student Master of Business Administration - Insurance Management Islamic Azad University of Sanandaj,iran 70

2 2.Based on a study of online insurance sales income of 257 million dollars in America in 1998 to reach $ 4 billion in The research and selection online and buy offline $ 2 billion in 1998 to reach $ 7 billion in Electronic sales currently online insurance sales is 12% and 88 % of non- online. 1.An overview of the benefits of e- Insurance Sales 1.1.One. Based on the estimated cost of sales conducted, administration and settlement in the long-term damage between 9 to 12 percent, depending on the type of insurance reduced. 1.2.Second. Competitive environment reduces costs and ultimately drive down the cost of insurance will increase penetration. 1.3.Electronic insurance reduces market entry barriers for new entrants and competition increases and the Internet allows the selling process to avoid costly and lengthy traditional network setup The nature of the information (Information - Intensive) insurance activity, this activity is suitable for e-commerce Allow rapid dissemination of information on the Internet, there is a high volume. In the field of insurance with greater complexity and higher value transactions such as insurance, pension, health insurance and many commercial insurance business that requires a lot of advice that can make the Internet as a marketing tool liquidated damages can be used with Support 2.PSP Companies involved in the insurance industry PSP international companies innovative ways to solve problems in the world today, traditional companies have submitted. One of the companies in corporate America, "Bill Matrix " for an insurance company that provides electronic payment solutions with more than 300 thousand customers, transactions, insurance companies will multiply. In explaining the company said Bill Matrix already renamed to Fiserv, electronic payment services to its international clients and their representatives, credit cards, cards, ATM, debit cards, electronic checks or Paypal provides. Customers giant electronic payment, often financial institutions, medical facilities, insurance, telecommunications companies and utilities such as water, electricity and gas provider and services company, payments, telephone payments and payments Web-based are frequent. The company has an impressive track record in providing payment solutions to companies in the insurance industry has had.older has made. Thus, the insurance company after the first year of implementation of transactions, electronic payment systems, almost two and a half times. Interactions with the insurance companies and payment e -commerce boom Insurance industry by offering its services to the users of cyberspace users could largely reduce the stress and secure their electronic payments provide. Also, some insurance companies to insure POS devices in case of fire, collapse or failure of electronic payments will help to increase customer satisfaction. 3.Audiences electronic insurance 3.1 Companies and institutions active in the field of e-commerce 3.2 Governmental and nongovernmental institutions that relative to their facilities or services provided by law, contract or common law regarding civil liability for damages to third parties, such as banks, media and telecommunication companies 3.3 People who are likely in the sheep ( the production and exchange of information ) victim of identity theft, theft issue securities identifiers ( encrypted credit card, etc.), or to falsify the 3.4 Companies that are associated with computers can be used for contracts or exchange information 3.5 Any attempt to institute electronic storage data and information via the internet or intranet accessible by those authorized or unauthorized 3.6 Agencies that act online publication, broadcast and communicate with the public or a special audience to think ( Insurance Communication and Media ( 71

3 3.7 The businesses that generated substantial business activities, trade or professional use from a letter 3.7 Companies that would benefit from technology in any way due to two factors, " continuing benefit " and " public or private " remarkable are a security risk 3.8 Agencies that have an active website to communicate with customers or audience 3.9 People who receive goods or services from the Internet, or method of constant market for the purchase or use of information 3.10 People who value their information and because of the special nature of trade, security, personal and... more dangers which threaten them 3.11 Those of credit cards or other electronic systems / more frequent Internet use in their daily trading activities 4.Types Ecommerce insurance Insurance policies available in the field of e-commerce can be divided into two categories : insurance first party and third party insurance First party insurance : third Insurer the probability of damage is covered by insurance makes it his own. E-Commerce damage insurance ( first person ) will be covered include: 4.1. Violation of intellectual property rights and related rights ( including property, trademarks, domain names, trade dress and other rights ) owned by the person or third parties Insurer 4.2. Damages due to cancellation or disruption in commercial activities Insurer the disruption or interruption of the Internet or internal network communication 4.3. Damage to the loss of the information to be entered Insurer 4.4. violating the advertising rules in e-commerce law (Articles ) and the rules of fair competition that will result from claims by third parties is Insurer 4.5 cyber extortion coverage of risk, meaning that if Insurer threatened by others to attack computer, disclosure, disruption or interruption of service and similar cases, the insurance company will provide a certain amount of up to criminals 4.6. Costs of third-party lawsuit against the wishes of the above Third party insurance : Insurer attempting to cover those losses before the insurance company gives the probability of the third party 's actions and activities there. Electronic commerce privacy, intellectual property rights, data, computer software, computer program or damages caused to third parties and thus vulnerable to electronic traders to place responsibility towards others. E-Commerce damage insurance ( third party ) would be covered include: Damage due to violation of intellectual property rights, rights relating to privacy or his agents have entered the Insurer Damage to consumers in accordance with Articles 33 to 49 of the Electronic Commerce Act damages resulting from the disclosure of financial information by third parties that are under contract or professional practice, Insurer has been committed to the protection and nondisclosure Damage caused by interruption or disruption of communication services to third parties who have entered Insurer damage caused by errors or by any act that causes harm to the client or his agents Bymbalaty Insurer or contract is costs of defending against third-party claims demands of one of the above Electronic payment services in the insurance industry at international level Monthly payment service This service is suitable for periodic payments or installments due every month automatically with the desired amount deducted from account to account Insurer insurance agent gets paid. It usually Insurance type of life insurance is appropriate. The service : 72

4 - No monthly fees - Has ability to adjust and change the first day of the 28th month of harvest ( harvest date online checking account balance can be adjusted ) is - Czech do not need to issue Service I-POS AIA Group Limited is Asia's largest life insurance company in 14 offices in Asia / Pacific, Hong Kong, Thailand, Singapore, Malaysia, China, Korea, Philippines, Australia, Taiwan, Vietnam, New Zealand, Mecca, Brunei, and also a joint venture 26 percent in India. AIA Singapore announced that it has launched a fully interactive mobile and point of sale system on the I Pad. AIA is the first global Insurer I Pad introduced a special independent sales terminals and comprehensive financial advice process secured by a life insurance policy, is possible. By doing this, the efficiency of the process of buying insurance increases and customers can obtain insurance cover in less than a day. Promoting the use of electronic payments, insurers can spend less time on administrative tasks and more time devoted to financial advisers and their organizations to increase productivity and business. 5.Insurance industry and the challenges surrounding Insurance industry because of its strong economy and healthy communities, one of the most active sectors in financial services. For example, in modern industrialized nations whose economies are based on technology, more and more exposed to risk are people who need insurance coverage, and most importantly, financing retirement needs are. Thus, insurance companies play an important role as an investor and shareholder. In 1382, all insurance companies operating in the world at about billion in income insurance policy sold it about 07 / 8 per cent of GDP to form. In other words, about 07 / 8 % of GDP is allocated to the purchase of insurance products. The share of developing countries around 758 billion dollars, which constitute 93 per cent of nations in Asia. Britain, Germany and Italy respectively 25, 17 and 16 % of the insurance market in the Europe Union countries were pioneers in the sale of insurance products. Most of the insurance industry in Central and Eastern Europe among the European Union countries in 1382, growing at about 5/18 of a total of about billion insurance policy has been issued. East and Southeast Asian countries, it issued million insurance policy to grow at about 4/12 percent have (Switzerland Ray, 2004). Although Asian markets Countries share of the insurance industry about 23/23 percent, while Japan alone accounted for two-thirds of the Asian market and 16 % share of the total market holds World. Country by selling million insurance policy and a growth of about 8/34 % compared to 1381 is ranked 46 in the world. The Iranian penetration of about 15/1 to 84 in the world ranking and consequently the insurance market still room for substantial growth in the country ( particularly in the life insurance sector ) is 6.An overview of the insurance industry in Iran The insurance industry has long suffered from a variety of swings.is not present in this market. The challenges to the insurance industry In general, two major changes following can be named ( Garvn, 1999 ) The emergence of new capital markets, particularly in reinsurance sector growth in computer networks like the Internet in the marketing and sale of insurance products The insurance industry has faced many challenges including pressures arising from external shocks ( such as terrorist attacks in recent years ) and changes in the governing structure of the companies noted. The other significant opportunities in the capital markets, insurance companies will have to adopt new models for their business has. Also, customers were also affected by these changes and certainly tastes and preferences are also changing. The automation process has been standardized products and thereby reducing the cost of expired 73

5 daily There is a lot Generally these changes are due to the following : globalization, newcomers and young companies, the changing economic environment and high stability, deregulation, and the imposition of new laws, changes to old age demographic and social changes - major changes in culture and technology and how transactions ( Krnal and others, 2000). bad service ( not to appropriate services ) low income countries Lack of public acceptance ( and low ) culture Nationwide Insurance inefficient resource management in the insurance companies ( bromideh and Trust, 2004 ) The first and fourth causes directly attributable to inefficiency and poor performance of insurance companies and third actually indirectly cause such a radical because the premise, the insurance companies had a strong and efficient functioning, of satisfied customers, to the factor in the promotion and development of culture in the country were insured. Overall, in the current business world, the use of e-commerce as one of the top options for overcoming the challenges mentioned often been suggested 7.The impact of electronic commerce on insurance Internet and e-commerce as the main wings not only trigger major changes in the business, but everyday life is also affected. The available evidence suggests the use of Internet and e- commerce development in Others seem to escape but to accept it. Global trends indicate that e-commerce is an important field of advanced countries in the last century. Developing countries are also moving rapidly towards achieving its use. However, all countries in proportion to their existing infrastructure and capabilities have invested in this matter. In this section, after preliminary discussions about the Internet and e-commerce, e- insurance, e- commerce applications, and finally some insurance companies will be mentioned. 8.Internet and Ecommerce : Advantages and Disadvantages In general, e-commerce encompasses a variety of forms of doing business ( and economic activity ) is through electronic means where the order of business for the organization and activities that produce value for customers and stakeholders ( Vygnd, 1997). Easier to do business electronic commerce often refers to activities that involve Production, promoting, selling and distributing products through a communication network ( WTO, 1998 ) and differences in definitions of Commerce electronics, mainly due to the difference in technology is employed. Through four general commerce (business to business, business to customer, customer to customer and customer- to-business ) B2B model is feasible compared to other sectors in recent years more attention has been 's. Deployment of e-commerce as well as other methods of doing business, has its own advantages and disadvantages. Some of the advantages of using e- commerce businesses in the form of ( Bromideh and the Arabs, 2005, Turban and others, 2002, Turban and Kynk, 2003) Increase the speed for fast data transfer and processing of accounting and its immediate Increased sales volume and sales costs achieve small and fragmented market segments increase sales opportunities Identify new suppliers and new business partners and promote collaboration with Preparation of new features for customers in the shortest time possible to compare products and prices be able to work full-time and remote collaboration improving the company's reputation as a pioneering and modern investment costs required to build and expand Network Partners expand the business by eliminating geographical restrictions Reduced costs for all products and services 74

6 enhance the products and services consistent with the needs of customers, through innovation and diversification promote the advertising and promotion of products with lower costs. ease of payment and settlement losses, and transparency -related activities Open communication with customers and accelerate the delivery of services to their Improving productivity jobs Staff and capacity at organizational level facilitate collaboration and knowledge transfer between stakeholders ( shareholders, agents, Brokers and... ) In general, two types of technical and non-technical constraints in the implementation of electronic commerce there. Technical barriers include issues related to security and reliability of the network and the Internet, hardware, software, network requirements and capabilities of Dmsazgary some specialized software. On the other hand, Costs of formalities electronics, security, users, access to customers interested customers to try and touch the goods before purchase, including non-technical barriers hindering the development of e-commerce businesses are (Turban and King, 2003 ) The disadvantages and limitations of using e-commerce businesses in the following cases can be cited as examples (Turban and Knyk, 2003, Turban and others, 2002, Bromideh and Arabi, 2005) High costs related to technology and lack of standardization of communication protocols Lack of sufficient communication bandwidth and software problems and disadvantages Lack of integration of digital and non-digital sales with product data (product) restrictions on access to communication tools such as fiber optics and wireless communication Difficulties in integrating the organization's existing IT infrastructure for e-commerce systems security issues and fears customers to provide personal or confidential information ( such as entering a user ID and password ) Failure to satisfy customer requirements, lack of trust and user resistance barriers related to the current structure of the organization and its culture and behavior Lack of appropriate support services ( banks, telecommunications, ISP, etc.) Lack of staff for the use of sophisticated e-commerce negative resistance organizations and the problems related to culture and organizational behavior the rapidly changing market and customer requirements. 9.Premium E- commerce application in the insurance industry Today, many businesses such as retail, banking and travel ( transportation ) as well as embracing new technologies in e-commerce professionals are self-employed. Some of these businesses also modify your business processes and changes adopted by the governing their business. Meanwhile, the insurance industry is going more slowly and with deliberation. The main reason for this delay can be summarized in the point that insurers must accurately determine what applications ( products and services) for this purpose, productivity and above all Cost - Benefit Analysis to determine which. This is because some e-commerce applications in other businesses simply can not be implemented in the industry ( ISO, 1997). Engage in e-commerce can be generally divided into separate sections : search, evaluation, distribution and delivery, transaction ( payment ) and after-sales service. In other words, the first step in buying insurance policy online insurance policy started searching for sites and then evaluate each of the insurance policy in terms of price, benefits, and other related services to meet the needs of the buyer to start the next steps in after agreements with third parties and Insured presentation and delivery of combined insurance policy premiums, including topics related to e-commerce in the insurance industry. After sales service in the insurance industry, is of minor importance compared with other industries ( Dsgapta and Sngapta, 2002 ) 10. E-business models in insurance companies 75

7 More recently, the new business models for online distribution area, there are insurance entities. E-commerce solution for administrative support and pony insurance contracts ( and the payment of damages ) in the B2B sector, the general rule is, In general, the current models of e- commerce is classified as cases in the (SC Ray, 2002 and Dsgapta and Sngapta, 2000 ) Insurance Companies website The commodity inputs ( description of goods and services insurance websites ) EDS ( Insurance Brokers Internet ) Risk Markets Online On -line entries, point of sale marketing ( marketing of insurance products through the site ) mutual auctions ( reverse auctions ) Now almost all the insurance companies ( and insurers ) has a website that is the simplest case for information about the company, products Products and services used. In advanced cases as sales and distribution channels used. Even some insurance companies virtually no branch and agency network, and only through it (sale, issuance or other procedures relating to the sale of insurance policy ) ones. The main impact of the adoption of e-commerce in the insurance industry, the collapse of the value chain. New information and communications technologies, disrupt the value chain by insurers easier. Each of the issuance of the insurance policy, administrative affairs, claims management and investment management can be divided among different business units or external specialists assigned to the service providers that are growing in number. Borders have lost their significance more so that insurance companies can still take advantage of low-wage countries with user skills. For example, management of claims, the issuance of the insurance policy and certain risk management specialists are suitable for transfer to Service Providers. Increasing pressure on costs, traditional service providers is forced to do something completely centralized model to verify its 11.Research objectives and methodology This section of the paper outlines the objectives and methodology of the research will be discussed. 12.The main objectives and detailed As well as the introduction of this paper, the main purpose of this paper, " The impact of electronic commerce on the insurance companies " is. To achieve the above objective, the main purpose of the five sub- goal (Detailed ) resolution that is provided in the following cases : attitude and approach towards e-commerce insurance companies Equipped with necessary infrastructure Barriers and challenges for insurance companies to implement e-commerce Potential use of the insurance businesses Benefits of using e-commerce. 13.Materials and Methods Due to the nature and objectives of this research, quantitative research methods, survey and descriptive research approach was used. Also collect data using a Likert questionnaire has been used.. For a detailed examination of the subject was trying to Kermanshah city staff working in health centers ( offices ) of the Companies and the general population or even decision making as selected samples are used. Of 150 questionnaires sent to the companies for a total of 102 completed questionnaires were analyzed, which indicates the rate of return is 68 percent. For data analysis, descriptive statistics were used Analysis and presentation of findings 14.Outlook towards e-commerce Overall, respondents rate their familiarity with the concepts and applications of ecommerce have modestly high valuation. Although the respondent 's familiarity private companies rather than 76

8 public companies, but the difference was not statistically significant. Thus, respondents' level of knowledge in the field of electronic commerce has largely been good. Although providing professional and practical courses for all employees at all levels can help insurance companies to be involved. The respondents believed that the use of e-commerce so much in the development of the insurance industry, mostly respondents to rate the impact of "high" were expected. However, respondents have argued that e-business will lead to the development of the insurance industry. On the other hand, respondents have argued that the development of e-commerce in the insurance industry is an opportunity. However, the respondents' use of e-commerce companies have declared themselves to be a challenge. 15.Infrastructure Respondents rate insurance companies to equip a hardware and network infrastructure required in the deployment of e-commerce, have assessed the appropriate fine. Equipped with the general and special insurance rates, indicating the suitability of the software platform for the deployment of e-commerce in insurance companies. In contrast, respondents have pointed out that skilled professionals in the IT field have been fitted. Finally, respondents rate being equipped and trained specialists in the field of e-business, low and very low evaluation that shows the basic weakness of the insurance companies in the. 16.The major obstacles facing the implementation of e-commerce required ( electronic signature, copyright, etc) are mentioned. Traditional attitudes prevailing organizational culture, lack of skilled and trained manpower and lack of trust in the security of the network and the Internet are the next category. insurance products and reduce their attractiveness to customers and a shortage of skilled and trained manpower. Meanwhile, the private insurance companies are more concerned about "the complexity of insurance products and reduce their attractiveness to customers ", respectively, while the three other public companies concerned and believe that they are obstacles to the adoption of e-commerce 17.Ecommerce application possibilities in Insurance In this section, the application of e-commerce has been considered from two perspectives: the potential use of e-commerce in insurance processes (value chains) and the relevance of insurance products and services for e-commerce. 18.Impact of e-commerce in the insurance value chain Associated with the marketing and sales of high and very high extent, the potential for the deployment of e-commerce. Associated with research and development of e-commerce are suitable for the application. The sections relating to payments and claims management and administrative personnel as well as related parts, will have minimal impact on the deployment of e-commerce. The amount of insurance products compatible with e-commerce Obviously not all insurance products offered and sold on the Internet are not equally capable. The amount of information required and the degree of importance ( financial risk ) associated with products / services are key factors in this regard. Whatever the complexity of the product / service is, the greater the potential sales over the Internet will be less. Based on these results, the insurance products available in the country, the largest potential to take advantage of e-commerce car insurance, cargo, and personal life are concerned. In other words, the insurance companies to offer the best chance of selling as a " line " are. Figure 6, the average of respondents' views about the extent of any insurance sales through the internet shows. 19. Benefits of using e-commerce Deployment of e-commerce in insurance companies improve corporate reputation as a pioneering and innovative company in the market. A second benefit from e-commerce to " facilitate collaboration and knowledge transfer between stakeholders ( shareholders, agents and 77

9 Brokers ) " is concerned. E-Commerce positive impact on the advertising and promotion of insurance products. In other words, the application of e-commerce can be improved by spending less on advertising and promoting the products of the company will be. Open communication with customers and accelerate the delivery of services to them, the fourth major insurance companies are using this advantage. 20. Conclusions and Recommendations The new assessment criteria, such as (EFQM) business excellence and growth and therefore we are now seeing companies survive and grow in such a way that these issues are welcome. Among the various industries in the country no exception and despite government support for most industries, we have seen many peaks and valleys in this regard. The development and use of the Internet in some business activities in the mid- 90th century, led to a challenge to traditional companies. Although newly established companies, mainly based on commerce in any day now mutations, but traditional companies are keeping up with some of the key activities of this business are. However, in the not too distant future, the industry is also not exempt from this and will implement as a result of e-commerce. This prospective study was based on an overview of the importance and impact of e-commerce in the insurance industry may apply. and as far as necessary for the implementation of electronic commerce in their own company. The most important challenges in the deployment of e-commerce insurance companies to " not having the rest of the backup ( such as electronic money, network, etc. ) " and "the absence of laws and regulations ( electronic signature, copyright and... ) " which should take measures in this regard. Relating to the marketing and sales departments as well as research and development, the greatest potential in the application of e-commerce and other car insurance, cargo, and personal life are more compatible for online sales. Also improve the company's reputation as a pioneering and new, to facilitate cooperation and knowledge transfer among stakeholders ( shareholders, agents and Brokers ), reducing investment costs required to build and expand a network of Agents, lowering costs for all products / Services and expand business with removal geographical limits of the most important benefits of using e-commerce are the insurance companies. According to the survey, insurance companies studied, it is recommended that in future research stakeholders such as brokers and shareholders are also studied. Also check customer reviews (Natural and legal ), companies providing Internet services and support to other sectors such as banking, telecommunications and legal and legislative sectors of the country could be helpful. Refrence 1- Bernoff, J., Morrisette, S., and Clermmer, K., (1998), Consumer E-commerce Readiness, Cambridge, Mass.: Forrester Research, Inc. 2- BMI (2004), Annual Report 1382 ( ), Bimeh Markazi Iran (Central Insurance Of Iran), Iran. 3- Bromideh, Ali, A. And Amani, Mohammad, M. (2004), The Necessity Of ICT And E- Commerce Applications In The Iranian Insurance Industry: An Unbundling Proposal, Presented In The 1st Conference On Insurance & ICT, Bimeh Markazi Iran (Central Insurance Of Iran), Iran. 4- Bromideh, Ali, A. And Aarabi (2005), The Impact Of E-Commerce On The Iranian Insurance Companies, MBA Thesis In E-commerce & Industrial Marketing Management, Lule? University of Technology, Sweden. (http: //epubl. luth. se/ /index-en. shtml). 5- Cornall, Monica J; Jolif, Nicolas; Animashahun, Ade H; Athwal, Gurpreet S., (2000), E- Actuaries, Presented To The Staple Inn Actuarial Society. (http: //www. sias. org. uk/papers/eactuaries. pdf). 78

10 6- Dasgupta, Prithviraj And Sengupta, Kasturi, (2002), E-Commerce In The Indian Insurance Industry: Prospects And Future, Journal Of Electronic Commerce Research 2 (1-2), Pp : 7- E-Business (2002), ICT & E-Business In The Insurance And Pension Funding Services Sector, The European E-Business Market Watch, Sector Report, No. 5. (http: //www. empirica. biz /empirica /themen /ebusiness /documents/ no05-ii_insurance. pdf). 8- E-Business (2005), Electronic Business In The Insurance And Pension Funding Sector: Increased Rivalry Through Online Players, Executive Summary Insurance And Pension Funding Sector 2002/03, Feb. 9- Garven, James R., (1998), Electronic Commerce In The Insurance Industry: Business Perspectives, The Kemper Insurance Companies, Long Grove, IL. 10- Garven, James R., (2000), The Role Of Electronic Commerce In Financial Services Integration, North American Actuarial Journal, Vol. 4, No. 3, Pp ISO, (1997), Electronic Commerce In Property/Casualty Insurance: Strategic Advantage Or Economic Imperative, Insurance Services Office, Insurance Issues Series Inc. 12- SwissRe, (2004), World Insurance In 2003: Insurance Industry On The Road To Recovery, (New: Statistical Appendix, Updated February 2005), Sigma No. 3, Zurich. 13- Turban, E. And King, D., (2003), Introduction To E-Commerce, Prentice Hall, USA. 14- Turban, E., King; D., Warkentin, M. And Chung, H. M., (2002), Electronic Commerce: A Managerial Perspective, International Edition, Prentice Hall USA. 15- Wigand, R. T. (1997), Electronic Commerce: Definition, Theory And Context, The Information Society, 13 (1), WTO (1998), Electronic Commerce And The Role Of The WTO, World Trade Organization, Geneva. 79

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